The thick clouds in Europe and the day of… women in SBE

The thick clouds in Europe and the day of… women in SBE
The thick clouds in Europe and the day of… women in SBE

Forecasts for the course of the economy in the Eurozone, and thus also in Greece, are worsening daily, due to energy- Women’s Day at the SBE

Good morning!

The clouds are thickening in the sky and not only because we are in autumn. After all, the first forecasts of the meteorologists for Greece are that in October and November we will see many bright and relatively warm days, until we enter the winter. The clouds are thickening economy of Europe and in particular of the Eurozone, thus also of Greece. Because our country may for a number of reasons be in a slightly better position than many other countries that use the euro, but obviously it will not remain unscathed. The main reason is that the Eurozone countries, as well as the rest of the EU, are the best customers for Greek exports and Greek tourism. This means that when people in these countries find it difficult financially, they limit their consumption – thus also of Greek products -, while their financial possibilities next summer will be limited. All the more so since the current problematic economic situation has two characteristics.

First, it is very intense, with great precision and unprecedented inflation for decades. So the restriction of consumption will be drastic. Secondly, very high energy and fuel prices mean that in the middle of winter – in Central and Northern Europe temperatures are extremely low for a long time – the increased expenditure of households and businesses will primarily serve to cover very specific needs. So cutting spending in other directions will be brutal. Already yesterday, Goldman Sacks, the big American bank on whose territory the sun never sets, revised its forecasts for the Eurozone economy, which – as the bank notes – will enter a “moderate real recession” . A second piece of worrying news that emerged yesterday is that interest rate volatility traders believe that by the summer of 2023 the ECB’s key interest rate for the Eurozone financial space will have risen to 3%. Any rate hike takes away from growth anyway, but to see rates jump from -0.25% to 3% in one year – even as a reasonable forecast – is a shock that will likely not be overcome easily or quickly. Therefore, the Eurozone is at the beginning of a critical period, which in Greece may become even more difficult after the summer of 2023, when tourism will not offer as much as this year. Especially if combined with difficulty financing the economy, due to high interest rates and possible political instability, the mixture has the characteristics of an explosive. Because good “the deepening and filling” of the Democracy, which is also said by the… hairy language of the most sensitive (sic) fellow citizens, through the simple, simplistic and… indolent, proportional, but governability requires practical solutions to real – that is, tangible – problems.

The “woman’s day” for SBE

Today is an important day for the Association of Greek Industries, as it is the day of the elections that will mark the end of the 10-year Savvaki era. The new Board of Directors is expected to appoint Mrs. Loukia Sarantis to the position of president. It is the first time that a woman occupies a top position in the institutions and bodies of entrepreneurship located in Thessaloniki. More generally, of course, the… scent of a woman spreads over the entrepreneurship of the country. Just in the last ten days, the Athens Chamber of Commerce and Industry got its first female president, Mrs. Sofia Kounenaki Efraimoglou, while Mrs. Eleni Vrettou took over the reins of Attica Bank. They say that the… female mind often works differently than the male, is more practical and more easily finds functional solutions to problems. Let’s see…

The effort and the way

Health and safety. In the apron of the two supreme goods for every man, lads may not be slaughtered, but… many millions are burned. In every currency of this world. And if for health the issue of high to excessive costs is timeless, for all kinds of security the thing has gotten out of hand at all levels in the last 20 years. For example, now that electricity bills are literally burning coffers, wallets and incomes and everyone – the state and municipalities included – must or rather must save, several mayors have discovered … security. In a country where most streets at night live in darkness or in… half light, mayors discover that limiting street lighting poses a danger to citizens. As – for sure – there will be arguments for lighting up the cities in the Christmas season, the first ones have already been heard. In the urban complex of Thessaloniki, however, opinions, views and decisions are divided. For example, the mayor of Neapolis – Sykeon, S. Danielidis, for 45 days has turned off one in seven lamps from the streets and squares of the municipality (a total of 1,731 lamps), without waiting for the legislative regulation announced by the government. As can be seen from the police report, so far the safety of citizens in the areas of this municipality has not been disturbed. On the other hand, there are mayors in Thessaloniki who express doubts about the feasibility of… partial blackout. The truth is that where some lights go out, negative impressions are created, at least at first. In a society that in essence does not set limits anywhere and for its values ​​the uneconomical counts more than the studied, while it considers the word economy synonymous with the degradation of everyday life and the standard of living (sic), the situation that has been created is unprecedented . However, even if we are only a year before the municipal elections, in which the local rulers play their… heads, it is good for them to know that – according to the Professor of Energy Systems at the Polytechnic School of the AUTH Agi Papadopoulos – international researches have certified that human systems can reduce energy consumption by 5% – 10% without losing anything. As an old ad said, “it doesn’t take effort, it takes a way”.

Prize on winbank

The importance that Piraeus Bank gives to online banking was justified once again with the award of the winbank mobile application, which received the title “The Best Mobile Banking App in Western Europe for 2022 (Consumer)” at the Global Finance Best Digital Bank Awards competition 2022 organized by Global Finance magazine. The assessment was made by Global Finance editors with international experience in the field of technology and Banking, taking into account the utilization of new technologies, the provision of high standards of services and the functionality of digital applications. Dimitris Mavroyiannis , Senior General Manager, Group Chief Operating Officer of Piraeus Bank (right in the photo below), received the award at the ceremony held in Dubai and in his statement referred to the continuous enrichment of the innovative electronic banking services provided by Piraeus Bank through winbank , utilizing the new technologies for the continuous upgrading of its operating systems.

The article is in Greek

Tags: thick clouds Europe day of .. women SBE

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